French industrial production fell by 1.9% in January

Industrial production in France fell by 1.9% in January compared to December 2022, due to a 6.7% decline in the manufacture of transport equipment, which includes aeronautics and the automobile , reported INSEE on Friday.

Manufacturing production fell by 1.8% and the extractive industries, energy, water category fell by 3%, detailed the National Institute of Statistics.

Year on year, manufacturing output was up 2.2% but was stable across industry as a whole due to an 11% drop in the extractive industries, energy, water category, "essentially due

" in 2022, according to INSEE.

Read alsoFrance: industrial production increased by 1.1% in December, according to INSEE

The pharmaceutical industry is falling sharply

To a lesser degree, the food industry also dragged down industrial production with a drop of 1.6%.

The manufacture of transport equipment rose by 10.9% over one year, but over one month, production fell by 2.6% in the automotive sector and by 9.5% in the "

" which includes aeronautics.

Also over one month, the drop in production was more brutal in the pharmaceutical industry (-11.6%) and to a lesser degree in chemicals (-3.5%).

On the other hand, the manufacture of capital goods increased by 1%, driven by that of computer, electronic and optical products which gained 2.6%.

It also increases by 3.6% in coking and refining.

Metallurgy was up slightly by 0.3% and construction was almost stable over the month, with +0.2%.

Finally, INSEE warned that it had revised the composition of its indices reflecting industrial production as every year to "

".